You have most likely watched the ads from car insurance companies like Farmers, GEICO, and State Farm claiming enormous savings. So you should just choose the one with the best commercial, right?
That is not the case, however, as there are many unknowns like whether you are single or married, the crash test ratings of your vehicle, if you own or rent your home, and how experienced of a driver you are, that help determine the price you have to pay. The information below will cover the things that influence insurance rates and will give you some help in finding cheaper rates.
Trying to find reasonably-priced car insurance is difficult, and determining which company quotes the cheapest car insurance rates after a speeding ticket involves a bit more work. Every car insurance company uses their own formula for determining prices, so we’ll go over the car insurance companies that tend to be cheaper in Texas.
It’s important to understand that Plano, TX car insurance rates are based on many factors that control the price you have to pay. Getting older, moving to a different location, or getting a speeding ticket can trigger price changes that can cause some rates to be cheaper in comparison to the competition.
Find the Best Cheap Insurance with Licence Points
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,235|
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Travelers offers some of the best car insurance rates in Plano at around $1,041 each year. This is $863 less than the average premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also rank well as some of the more affordable Plano, TX insurance companies.
As shown above, if you currently have coverage with Esurance and switched to USAA, you could realize savings of about $304. Customers with California Casualty may save as much as $307 a year, and State Farm customers might cut rates by $393 a year.
To see if your current coverage is too expensive, click here to start a quote or click through to the companies below.
Remember that these premium estimates are averaged across all types of insureds and vehicles and are not factoring in a specific vehicle garaging location after a speeding ticket. So the insurer that fits your situation best may not even be in the top 23 companies shown above. That points out the importance of why you need to quote rates from as many companies as possible using your own driver information and specific vehicle type.
One of the more important components that aid in calculating the amount you pay each year for auto insurance is where you call home in Plano. Areas with more people or higher crime rates likely pay more, whereas areas with lower vehicle theft rates and fewer weather claims tend to receive cheaper rates.
The table below rates the most expensive cities in Texas after a speeding ticket to purchase car insurance in. Plano shows up at #22 with an annual cost of $1,608 for coverage, which is about $134 per month.
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Price information shown is approximated as zip code location can affect coverage rates noticeably.
The vehicle you are buying coverage for is one of the largest considerations when quoting the best cheap insurance after a speeding ticket. Vehicles with lower acceleration and performance, good safety features, or a track record of few liability claims will cost substantially less to insure than higher performance models. The data below illustrates insurance rates for a handful of the cheaper vehicles to insure.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$1,270|
|Jeep Wrangler Rubicon 4WD 2-Dr||$1,286|
|Ford Focus S 4-Dr Sedan||$1,335|
|Honda CR-V EX 2WD||$1,342|
|Toyota RAV4 2WD||$1,362|
|Toyota Tacoma Double Cab 4WD||$1,372|
|Ford Escape Limited 2WD||$1,366|
|Honda Odyssey LX||$1,392|
|Chevrolet Silverado LTZ Extended Cab 4WD||$1,459|
|Ford Fusion SEL 4-Dr Sedan||$1,469|
|Chevrolet Equinox LTZ 2WD||$1,459|
|Honda Civic DX 4-Dr Sedan||$1,474|
|Ford Edge SEL AWD||$1,479|
|Volkswagen Jetta 2.0T Station Wagon||$1,490|
|Ford Explorer XLT AWD||$1,492|
|Ford F-150 FX2 Super Cab 2WD||$1,500|
|Chevrolet Impala LT||$1,502|
|Chevrolet Malibu LT||$1,530|
|Hyundai Sonata SE 4-Dr Sedan||$1,533|
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Premium data assumes single female driver age 50, two speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, and multi-vehicle. Information does not factor in specific garaging location which can impact auto insurance rates substantially.
By looking at the data, models like the Hyundai Elantra, Toyota Prius, Jeep Wrangler, Ford Focus, and Honda CR-V will definitely be a few of the most budget-friendly vehicles to insure after a few driving violations.
Should you buy full coverage?
Lowering the price of car insurance is probably important to most vehicle owners, and one way to buy cheaper insurance after a speeding ticket is to not buy full coverage. The illustration below visualizes the comparison of car insurance rates with full physical damage coverage and with liability coverage only. The premiums assume no claims or driving citations, $1,000 deductibles, single marital status, and no other discounts are factored in.
If we average the cost for ages 20 through 70, full coverage on your policy costs $1,598 per year more than just buying liability insurance. That raises the question if buying full coverage is a good investment. There is no clear-cut formula of when to exclude physical damage insurance, but there is a broad guideline. If the annual cost of having full coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.
For example, let’s pretend your vehicle’s settlement value is $10,500 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $9,500 after the deductible is paid. If it’s costing you more than $950 a year for physical damage coverage, then you may want to consider only buying liability coverage.
There are a few situations where eliminating full coverage is not a good idea. If you still have a lienholder on your title, you have to maintain full coverage as part of the loan requirements. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should maintain full coverage.
Choosing the right auto insurance provider can be challenging considering how many choices there are in Texas. The information listed below may help you analyze which car insurance providers you want to consider shopping prices with.
The rankings below include the largest auto insurers in America, so companies with more of a regional focus are not taken into consideration for the list. To check rates from these and other companies in Texas, follow this link.
Top 10 Large Auto Insurance Providers Overall in Plano
- Mercury Insurance
- AAA Insurance
- State Farm
- The Hartford
- Safeco Insurance
Tips for finding more affordable car insurance after a speeding ticket
Here are many money-saving ideas that can help you get cheap auto insurance.
- Do not get tickets
- Buy vehicles with good safety ratings
- Pay for smaller claims out-of-pocket
- Buy your auto and home insurance from the same company and save
- Prevent rate increases by staying accident-free
- Shop around and save
The last item on the list is certainly critical, as we hit on in the prior article. Prices change a lot, so drivers shouldn’t hesitate to switch companies if a more affordable rate is found. Having brand loyalty is commendable, but it isn’t a good idea if your bullheadedness ends up costing you a small fortune. If you have a few minutes, compare prices and find cheaper car insurance after a speeding ticket in Plano.
The Plano auto insurance agencies shown below are willing to provide answers to your questions and help you determine which coverages are best, as some drivers aren’t sure which coverage they need and prefer to have some professional guidance when shopping for cheaper insurance after a few driving violations. It’s not always easy to find the best rates on your own, so insurance agents licensed in the state of Texas can provide you peace of mind knowing you have sufficient protection if you have a claim.
To locate an agency close to where you live, click the button following the list.
Allstate Insurance: Matthew Greiner
2415 Coit Rd d – Plano, TX 75075 – (972) 769-8800
Byron Wilkerson – State Farm Insurance Agent
9720 Coit Rd #140 – Plano, TX 75025 – (214) 618-5700
Matt Lohoefer Insurance
5805 Coit Rd #401 – Plano, TX 75093 – (972) 964-0113
Korina Hernandez – State Farm Insurance Agent
2301 N Central Expy #260 – Plano, TX 75075 – (972) 423-7667